• Sat. Nov 28th, 2020
Uk retail market growth is evident

UK retail sales volumes in October grew by 1.2% than in September. It grew for the sixth consecutive month, according to the Office for National Statistics.

Sales were 5.8% higher than in the same month last year. The UK retail markets reported consumers had started Christmas shopping earlier than usual.

The Uk retail growth

Online sales jumped by 52.8% and store sales were down by 3.3%. The restrictions aimed at limiting the spread of the coronavirus affected shops in some regions.

Clothing sales were down 14% in October, with online sales up 17.1% but store sales down by 22.1%. Food sales were up 3.4%, also helped by a surge in online purchases.

“Despite the introduction of some local lockdowns in October, retail sales continued its recent run of strong growth.” Deputy national statistician for economic statistics Jonathan Athow said.

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“Feedback from shops suggested some consumers may have brought forward their Christmas shopping, ahead of potential further restrictions. Online stores also saw strong sales, boosted by widespread offers.

Uk retail market growth is evident
UK retail market growth is evident

“However, the slow recovery in clothing sales has stalled after five consecutive months of increased sales.”

” Almost every category of the sector recovered and measuring the period to 31 Octomber. These figures don’t include the last minute rush to the high street after the second lockdown was announced.” Lisa Hooker, consumer markets leader at PwC, said.

“The closure of non-essential stores and slump in consumer sentiment earlier this month severely hampers the sector. Black Friday contributes much on the growth of the sector too.

“Looking ahead to December, with online delivery capacity already stretched to its limits. Retailers hopes for a swift lifting of lockdown restrictions and that consumers shows can bounce back into spending mode. They did after the first lockdown was lifted in June.”

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